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Algerian court certifies Tebboune’s landslide reelection win
Stock Market News |
2024/09/14 11:04
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Algeria’s constitutional court on Saturday certified the landslide victory of President Abdelmadjid Tebboune in last weekend’s election after retabulating vote counts that he and his two opponents had called into question.
The court said that it had reviewed local voting data to settle questions about irregularities that Tebboune’s opponents had alleged in two appeals on Monday.
“After verification of the minutes of the regions and correction of the errors noted in the counting of the votes,” it had lowered Tebboune’s vote share and determined that his two opponents had won hundreds of thousands more votes than previously reported, said Omar Belhadj, the constitutional court’s president.
The court’s decision makes Tebboune the official winner of the Sept. 7 election. His government will next decide when to inaugurate him for a second term.
The court’s retabulated figures showed Tebboune leading Islamist challenger Abdellali Hassan Cherif by around 75 percentage points. With 7.7 million votes, the first-term president won 84.3% of the vote, surpassing 2019 win by millions of votes and a double-digit margin.
Cherif, running with the Movement of Society for Peace, won nearly 950,000 votes, or roughly 9.6%. The Socialist Forces Front’s Youcef Aouchiche won more than 580,000 votes, or roughly 6.1%.
Notably, both challengers surpassed the threshold required to receive reimbursement for campaign expenses. Under its election laws, Algeria pays for political campaigns that receive more than a 5% vote share. The results announced by the election authority last week showed Cherif and Aouchiche with 3.2% and 2.2% of the vote, respectively. Both were criticized for participating in an election that government critics denounced as a way for Algeria’s political elite to make a show of democracy amid broader political repression.
Throughout the campaign, each of the three campaigns emphasized participation, calling on voters and youth to participate and defy calls to boycott the ballot. The court announced nationwide turnout was 46.1%, surpassing the 2019 presidential election when 39.9% of the electorate participated.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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